what happens next? Price action training

Awesome thread idea!!!!

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This one would be a Long for me...

i think if price gets to your target ,its gonna retest the high's ...we'll see

Sell on this one.... but after retest of TLs....

Then I'd buy again on a retest of the top side of the TL as support... if I got the chance.

Lets see what happens!

This pair is USDJPY H1.

If I were required to assess one timeframe only then as things stood at time of posting, I was interested in the demand zone below and that last bearish swing point, which was also a gap and supply and is indicated by the short white line. My side, these two areas are the only fresh supply and demand in relation to where the current price sat, and so are of interest.




Chart below is current situation at time of posting. This is a good example why it can be low probability to touch trade fresh zones without first seeing some PA at the zone because although the risk was small, a short at that little supply level where the original white line was would already have been stopped out for a loss.

Again, if I were forced to enter the market here I would have to enter long with a stop below that swing point where the "x" is. Target would likely be the top of the flag (where that little tick mark is).

In terms of how I'm actually going to trade this pair, there's some hints that price may want higher but as of yet there's no confirmation of that setting up therefore I can't and won't trade something that hasn't yet happened.

Still interested in that lower demand. Touch traders will obviously buy on touch and place their stop somewhere below the green demand zone. Personally, I'll be reading PA once price hits. If I see signs that the bulls wish to take control there, I'll buy with them.

good one ..i wasn't expecting a live chart ..I had a feeling it was a H1 chart though.

Now what ?

I probably wait for sell opportunity on this one

Good Day Everyone,

This upward move seems corrective, would wait for break of momentum line and short. Stop loss buffered above highest point reached. Take profit near box below.

Thanks

I throw something at the screen, cos I was stopped out.

That chart wouldn't happen to be a H1 euro/usd would it ?

or the M30

Yes this is the 30 min EURUSD chart haha

As for being stopped out, where do you think I would of entered if I got stopped out ?

1.04560 ?

you would have to be up early out of bed to trade that ...not much of a chance to get on board..

how did you get stopped ...I guess you entered here ?

I would wait for short setup on this one.